I’m very glad you resurfaced this post @allthecolors. I’ve been meaning to reply for a bit, but things kept coming up.
Here’s the full update. After CGP 1.0 ran its course, we started working on CGP 2.0 right away. The basic idea was to take the parts of CGP 1.0 that worked and do them 10x better. As we were coming up with the detailed plan, however, it became clear that CGP 2.0 couldn’t just be one person. To operate well, it had to be a group of people working full-time on the initiative.
Since we knew we needed a group of people, we started recruiting potential employees for CGP 2.0. While we had some great candidates, it proved challenging to get people to commit to a job before CGP 2.0 was fully funded by the treasury. As a result, we started thinking about creating a proposal to fund CGP 2.0 before the team was identified. Before we posted anything on the forums, we wanted to make sure the plan was sound legally too. We had our lawyers review the plan and give us advice on how to run with it.
Unfortunately, this is where there were some hiccups. To launch CGP 2.0 effectively, our lawyers strongly suggested a legal entity of some type would need to be created to hold the funds. There are many workable entity types grants programs can use, but for programs of a significant size ($5M+), entities in tax-friendly jurisdictions were highly encouraged. Armed with all of this information, we realized that setting up the entities, recruiting the CGP 2.0 team, and managing the operations for CGP 2.0 would be a very expensive task, both financially and time-wise. And candidly, I myself did not have the time to do it.
I strongly believe that Compound needs something like CGP 2.0. If there are any community members that are interested in picking up the mantle, now’s the time to speak up!